EURUSD has confirmed a potential top around 1.2010 levels after breaking below 1.1754 support. Furthermore, a potential corrective wave seems to have been complete at 1.1914 over the last week. Also note the above is fibonacci 0.618 retracement of the drop between 1.2010 and 1.1754 respectively. Probability remains high for a turn lower from here or from around 1.1950 mark. A break below 1.1754 would confirm that Wave 3 is underway towards 1.1500 at least. Good to sell on rallies.
Remain short, stop @ 1.2040, target @ open
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain short, stop @ 1.2040, target @ open
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.